* US House Budget Committee Chairman Paul Ryan (R-WI) unveils [PDF] Republican answer to Obama administration’s FY 2012 budget; Republican version reflects $178 billion in defense savings over the next 5 years identified by Defense Secretary Robert Gates.
* Meanwhile, House Republicans are proposing $12 billion in cuts for discretionary spending in the FY 2011 continuing resolution, while boosting DoD funding [PDF] by $7.6 billion over FY 2010 levels through Sept 30/11.
* The European Parliament approves plans to extend the EU list of dual-use items that can be exported to “nonsensitive” countries in exchange for greater oversight of the notification system from the European Council.
* Russia delivers 2 Mi-35P Hind E attack helicopters to Peru as part of an $108 million contract signed in July 2010, which included delivery of 6 Mi-171 Hip H multirole helicopters as well.
* South Africa inducts its first AH-2 Block 1F Rooivalk, after South Africa’s government ponied up additional cash. It only took over 20 years from the first prototype rollout.
* Greek mythology inspires Global Defense Technology & Systems – a McLean, VA-based defense technology firm – to change its name to Sotera Defense Solutions following its acquisition by Ares Management.
* UAV market is predicted to reach $7 billion in 2017, up from $2.5 billion in 2010, according to WinterGreen Research.